Insulin Pumps Market Worth US$ 8,264.0 Mn by 2025 - Ypsomed AG, Valeritas, Debiotech, CELLNOVO, SOOIL Developments

The global insulin pumps market is a mature market in the developed countries as well as in developing economies worldwide. The insulin pumps market is segmented on the basis of product, type and application. Based on product, the market is bifurcated into pumps and accessories. By type, the insulin pumps market is segmented into tethered and untethered types. On the basis of application segment, the market is classified as type I diabetes and type II diabetes. The insulin pumps include the applications such as type I diabetes and type II diabetes. The insulin pumps by application, the dominance of type I diabetes segment attributes to the alleviation from large costs that are incurred by the companies for in-house activities.

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The factors that are responsible for the type I diabetes include genetics, exposure to viruses and other environmental factors that develops in adults but also typically appears during childhood or adolescence phase. According to the Centers for Disease Control and Prevention (CDC), in 2017, approximately 23 million people had diagnosed with diabetes in the United States, whereas people with type I diabetes accounted for approximately 5% to 10%, or approximately 1.2 to 2.3 million in the country. Furthermore, the IDF also projected with type I diabetes that represent approximately 10% of the diabetes population worldwide. Thus, the increasing prevalence of type I diabetes help to boost the growth of the global insulin market in the coming years.

Over the years, researchers have been carrying out research activities which have resulted to product innovations. Products with increased technology with more effective benefits is a major requirement in the treatment for diabetes. As the prevalence of diabetes is increasing across the world, the demand for more products with advancements is also boosting up. The growing innovations in novel insulin pump products is a boosting factor that helps to propelling the growth for the market.

Here we have listed the top Insulin Pumps Market companies in the world

Insulet Corporation, Medtronic, Tandem Diabetes Care, Inc, Debiotech S.A, CELLNOVO, SOOIL Developments Co., Ltd, MicroPort, Scientific Corporation, Valeritas Inc., F. Hoffmann-La Roche Ltd., Ypsomed AGand.

The insulin pumps market accounted to US$ 3,822.4 Mn in 2017 and is expected to grow at a CAGR of 10.5% during the forecast period 2018 - 2025, to account to US$ 8,264.0 Mn by 2025.

For instance, in July 2018, the Roche received a CE mark for its Accu-Chek Solo micropump system. The system is a small tube-free insulin delivery device that offers to their users the choice to bolus directly from the pump. It is fully functional handheld device that comprise detach and re-attach function of pump without wasting insulin. The Accu-Chek Solo micropump integrates and the Roche's digital health solutions contributing in a combination to provide more effective and personalized diabetes management to their users. Moreover, in the March 2018, the Medtronic announced to have a FDA approval for their latest smart technology of standalone CGM named the Guardian Connect system. The Guardian Connect system has the advanced feature including alert system that helps in aware people about potential high or low glucose level events, up to 60 minutes in advance.

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